News Highlights: Top Global Markets News of the Day

Federal Reserve officials are likely to raise short-term interest rates at their meeting in two weeks and announce their framework for shrinking a $4.5 trillion portfolio of bonds and other assets later this year.

U.S. Consumer Spending Rose 0.4% in April

Americans stepped up their spending in April at the fastest pace in four months, a sign the U.S. economy is rebounding after a lackluster winter.

Oil Loses Its Pull on Stocks, Currencies

Stocks and currencies are ignoring the oil price after previous periods of moving in lockstep.

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European Stocks and U.S. Futures Fall

Global stock markets moved lower as investors dialed back their exposure to riskier investments after a long holiday weekend in the U.S. and Britain.

Oil Prices Fall as Investors Wait for OPEC Cuts to Take Effect

Oil futures were depressed following last week's decision by OPEC to extend a crude-oil production cap.

WSJ's Daily Shot: More American Women Enter the Workforce, but Will the Trend Continue?

Eurozone Business Optimism Wanes Despite French Rally

Eurozone businesses were less upbeat about their prospects in May, despite a boost to optimism in France after centrist Emmanuel Macron defeated anti-euro candidate Marine Le Pen in presidential elections.

German Inflation Drops Sharply in May

Inflation in Germany dropped sharply in May, led by easing energy prices.

Goldman Sachs Under Fire for Venezuela Bond Deal

Goldman Sachs is on the defensive in Venezuela after it bought bonds that had been held by the struggling country's central bank in a transaction the opposition decried as a lifeline to President Nicolás Maduro's administration.

India's Growth Likely Gained Steam

Gross domestic product likely expanded 7.2% last quarter, as an infusion of new rupee bills helped resurrect demand after New Delhi's crackdown on cash in November.